Failure to fulfill an obligation, duty, or
promise, as when a borrower fails to make
payments, a tenant fails to pay rent, or a party to
a contract fails to perform.

Merriam-Webster Online Dictionary
default (noun)
failure to do something required by duty or law - neglect
archaic - fault
a failure to pay financial debts
a) failure to appear at the required time in a legal proceeding
b) failure to compete in or to finish an appointed contest - lost the game by default
a) a selection made usually automatically or without active consideration due to lack of a viable alternative - remained the club's president by default
b) a selection automatically used by a computer program in the absence of a choice made by the user
default (verb)
intransitive verb
to fail to fulfill a contract, agreement, or duty as
a) to fail to meet a financial obligation - default on a loan
b) to fail to appear in court
c) to fail to compete in or to finish an appointed contest , also to forfeit a contest by such failure
transitive verb
to make a default selection - the program defaults to a standard font
to fail to perform, pay, or make good
a) - forfeit
b) to exclude (a player or a team) from a contest by default
Merriam-Webster Online Thesaurus
default (noun)
the nonperformance of an assigned or expected action
default, delinquency, dereliction, misprision, neglect, negligence, nonfeasance, oversight
carelessness, heedlessness, inadvertence, inadvertency, laxity
compliance, discharge, fulfillment ( fulfilment)
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